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Progress Thread My First Online Company!

Discussion in 'Progress/Execution Threads' started by andreaguzzonato, Mar 1, 2017.

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  1. RazorCut
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    RazorCut Student of Life Read The Millionaire Fastlane FASTLANE INSIDER Speedway Pass

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    Well you started with a bang. Sorry if it seems to be fizzling out. If you analyse it why do you think things haven't taken off?

    Are you only charging $15 a customer? Seems way too low to me if that's the case. At those rates you can't afford to buy any traffic as it will cost you more to get a customer than their worth (excluding any recurring revenue).

    Did you manage to get all the trials set up? Maybe if the conversions were very low it is due to you getting mainly bottom feeders who are just in for a free ride.
     
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  2. KSR
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    KSR Bronze Contributor Read The Millionaire Fastlane Speedway Pass

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    How's your traffic looking? How many hits?
     
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  3. andreaguzzonato
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    andreaguzzonato Bronze Contributor Read The Millionaire Fastlane Speedway Pass

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    Yes, I started with a bang and had a lot of trials! But only four of them has converted to customers.
    I think there were too many trials. I couldn't handle them at my best. There was no time.

    I'm charging $15 per month. It's low but it's easier for people to renew every month.
    Am i wrong? Should i charge more? Any suggestion is appreciated! :)

    Do you mean how many clicks throught my website? :happy:
     
  4. KSR
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    KSR Bronze Contributor Read The Millionaire Fastlane Speedway Pass

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    Yeah, as in how many website visits do you have? It'd be nice to get a conversion % and you can work off that.
     
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  5. RazorCut
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    RazorCut Student of Life Read The Millionaire Fastlane FASTLANE INSIDER Speedway Pass

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    Oh I think that is way too low. You are not selling them a pack of razor blades or an audio book once a month. You are building a responsive and engaged following 24/7. They can see the increases in both followings, likes and engagement on a daily basis. Do you think getting 50 to 300 new followers a day is only worth 50c? I would have thought that $40 to $60 per month would be a very reasonable figure.

    The problem is when you aim at the bottom of the market you tend to attract the freeloaders who are just out to get something for nothing. The 80/20 principle indicates you will get 80% of your problems from 20% of your customers and from past experience its the freeloaders that sit firmly in the 20% bracket.
     
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  6. andreaguzzonato
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    andreaguzzonato Bronze Contributor Read The Millionaire Fastlane Speedway Pass

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    Thank you for helping and sorry for the late response.
    How should I proceed in your opinion? Can I adjust the prices or do i have to create a new brand?
    I'm not famous at the moment, then a 4x price increase should not be a problem, but I will surely lose my customers!
     
  7. RazorCut
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    You can always say the first 4-5 customers were on a special early bird offer if you need to say anything at all. Happens all the time. Look how many software programs were free to start with then went to a paid model once they had build enough of a market for themselves.

    You could keep your existing customers at their current price point if you are happy with that. After all, the hard work has been done and it's pretty much a case of leaving it on autopilot apart from a weekly or monthly stats update isn't it?
     
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